Apple’s iWatch hasn’t even been announced, but analysts on Wall Street are already projecting the device to earn $17.5 billion in sales for its first year on the market. The bold prediction came from Morgan Stanley analyst, Katy Huberty. She may not be wrong, considering the iPad garnered $12 billion in its first year, according to Apple Insider. Huberty has also taken shipping constraints into account, offering a revised estimate of $10 billion to $14 billion.

Huberty’s estimates don’t end there. In order to calculate the $17.5 billion sale figure she priced the iWatch to be $299 a pop. This figure would go along with Apple’s premium pricing model, and as the competition stands the only smartwatch that’s priced that high is [easyazon-link asin=”B00FH9I0FQ” locale=”us”]Samsung’s Galaxy Gear[/easyazon-link]. It would have to also beat out the cheaper options, like the Pebble Steel ($249), Pebble ($149), and Sony Smartwatch 2 ($199).Though, many consumers already invested in Apple’s ecosystem may not mind the price if it means seamless access to the rest of their network of products and apps.

While rumors abound on every aspect of this device, there’s still no concrete release date. I’m certain that when there is one, it won’t come quietly. More than likely, it’ll be announced at one of Apple’s famous conferences. Rumors of a late 2013 release date were changed when further rumors of manufacturing issues were reported. As of now the device is (again) rumored to have a late 2014 or early 2015 release date.

The iWatch is also rumored to have advanced biometric tracking capabilities, which would go along with the recent trend of dedicated health and fitness watches, like the Fitbit Force.